Report: ECB Approves Emergency Liquidity for Greek Banks

The European Central Bank has raised the ceiling on emergency liquidity Greek banks can draw from the country's central bank for the second time this week, a banking source told Reuters on Friday, declining to say by how much.

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The ECB's governing council held a teleconference on Friday to discuss extending the emergency liquidity assistance after Greek savers pulled 3 billion euros from Greek lenders this week on fears that Athens will fail to reach a deal with lenders.

"The ELA increase was approved, they all (ECB governing council) expect a positive outcome at Monday's summit," the source said, referring to a summit of euro zone leaders on Monday to discuss Greece's fate.